TOP Forex Broker in the market Working since 2005

03 Jun TOP Forex Broker in the market Working since 2005

I find the deposit and withdrawal methods sufficient for most traders and appreciate the inclusion of cryptocurrencies. A combination of in-house research and xcritical scam third-party analytics by Claws & Horns offers traders comprehensive market coverage and trading ideas. LiteFinance maintains a blog where analysts provide research and trading signals. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based LiteFinance ECN account.

What Are CFDs?

In my opinion, MT5 is a good option for fast and simple order execution. On the other hand, its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective. Generally, only the $10 commission on FX Majors falls below the industry average.

Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. LiteFinance features a Beginner section on its blog, where it presents educational content featuring dozens of quality articles. I recommend traders use it as part of their education before opening an account. LiteFinance does not provide any of the necessary third-party add-ons to unlock the full functionality of MT4/MT5 and improve the trading environment.

LiteForex offers robust research content catering to the needs of novices and experienced traders alike. The broker offers market breakdowns developed in-house and also incorporates content from Claws&Horns. Trading View offers advanced charting capabilities and multiple analytical tools for carrying out advanced technical analyses. As a chart artist, I have always valued platforms with detailed and versatile charts, and LiteForex’s platform is one such station.

This company is a registered broker operating from Cyprus, an EU member state located in Southern Europe. As such, all trading and client activity is regulated xcritical scammers by the Cyprus Securities and Exchange Commission. As noted above, this jurisdiction offers investor compensation up to EUR 20,000 on non-professional trading accounts in the event of brokerage liquidation.

LiteForex Research Tools

1. The latter offers slightly more competitive prices than the typical STP account, but it falls behind the typical ECN account type.
2. Coupled with its raw spreads starting from 0.0 pips, this combination on the ECN account is generally better than the industry average.
3. Since rebranding, LiteFinance lacks transparency across its core trading environment.
4. LiteFinance maintains the out-of-the-box MT4/MT5 trading platforms, but no introduction exists.

Overall, LiteForex is an excellent proposition for both beginner traders and professionals thanks to its range of account types and the wealth of financial information available to account holders. Private investors focusing primarily on forex pairs while appreciating transparency and competitive pricing will benefit, especially from this broker’s offering. MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature. The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions. For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds.

LiteForex also offers VPS hosting, which can be helpful for automated trading. I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform. The account was opened with the broker’s Liteforex (Europe) Ltd entity. Some features and services may vary depending on where you reside and which entity you open an account with. Another benefit related to the European Union’s financial markets regulations is the negative balance protection feature that applies to both account types.

This is only true for withdrawals, as the broker reimburses its clients for any processing fees incurred when depositing. However, LiteForex’s range of instruments is somewhat limited, with an absence of share CFDs and cryptocurrencies. While the spreads on its Classic account are relatively high, the ECN account type offers more competitive trading fees. The customer onboarding process employed by this brokerage is simple, with users offered the option of signing up for a demo account that is compatible with MT4 and MT5.

The Desktop Version of LiteForex’s MetaTrader 5 Platform

I appreciated that the materials are supported with tests to help the reader solidify what has been learned. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. Compared to the industry average, LiteForex offers an average amount of forex pairs and commodities, and a high amount of indices. Traders can access LiteForex’s copy trading environment from the ‘Investing’ section of the website. The performance of all the available trading strategies is presented in the ‘Traders Ranking’ subsection.

Promote the LiteFinance brand as our partner and earn up to 70% of spreads per attracted client. Raw spreads from 0 points, the best liquidity providers, and ECN technologies make it profitable to trade with LiteFinance. LiteFinance ensures the safety and high-speed processing of financial operations using strict protocols and advanced technological solutions. Analytical materials are developed in cooperation with our partner, Claws&Horns, exclusively for information purposes. Published materials should not be regarded as a recommendation for investment or advice in accordance with Directive EC.

Gold Price Forecast & Predictions: 2024 and Beyond

This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. LiteForex has a track record of more than 15 years in the online brokerage industry with offices in jurisdictions worldwide. Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today.

Thus, I concluded that LiteForex’s customer support is good but could be improved. LiteForex offers multilingual support available 24/5 via live chat, email, and phone. Agents respond fairly quickly to queries and have a basic understanding of LiteForex’s services. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided. Read independent analysts and obtain the most xcritical details about financial markets.

LiteFinance offers three partnership programs, but limited information exists. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade.

The broker offers extensive supporting content, multilayered safety mechanisms, and fast but basic customer support. Its accounts are quite accessible with a low minimum deposit requirement of only $50, and at the same time, clients can choose from multiple supporting tools. It presents traders with an ideal environment to test EAs and new strategies.

Company’s news

I always recommend that traders check them before evaluating the total trading costs. Another strong point is the broad range of forex trading educational resources available on the broker’s website. However, the broker generally charges high trading fees on its Standard account and provides extremely limited instrument offering of about 70 assets. While it provides a decent amount of forex pairs, commodities, and indices, there are no share CFDs, cryptocurrencies, or other lower-risk securities like ETFs and bonds. Dormant accounts are charged an inactivity fee of $3, which is quite low. Deposits and withdrawals are cost-free with LiteForex, though third-party banking fees may apply.